|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRI RAVINATH SINGH LAW COLLEGE SAMITI |
|
|
|
|
Registered
Office : |
Village |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
04.07.2013 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJAS6482J |
|
|
|
|
Legal Form : |
Society |
|
|
|
|
Line of Business
: |
Educational Institute (Setting up and Running a Law College) |
|
|
|
|
No. of Employees
: |
17 (Approximately) (Office – 7 and factory – 10) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Educational Society |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new educational society incorporated on 04.07.2013, and
it is establishing itself gradually. Mr. Siddharth Dubey, Branch Manager has provided all information to
us. Business is active. Payment terms are unknown. The subject can be considered for business dealing on a safe and
secured trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus on providing payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Siddharth Dubey |
|
Designation : |
Branch Manager |
|
Contact No.: |
91-8009510007/ 8858014433 |
|
Date : |
08.02.2014 |
LOCATIONS
|
Registered Office : |
Village Daheliya Post-Jaitpur Bewar Road, Near Major S D Singh Medical
College, Farrukhabad – 209602, Uttar Pradesh, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8009510007/ 8858014433 (Mr. Siddharth Dubey) 91-9792157606 (Mr. Abhishek Yadav) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
1620 sq. ft. |
|
Location : |
Owned |
MANAGEMENT
|
Name : |
Mr. Ajay
Pal Singh |
|
Designation : |
President |
|
Address : |
Civil Lines, Phoosh Bangla, Faehgarh, Farrukahbad, Uttar Pradesh,
India |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
Post Graduate |
|
Experience : |
20 Years |
|
|
|
|
Name : |
Mr. Ravnath Singh |
|
Designation : |
Secretary / Manager |
|
Address : |
Civil Lines, Phoosh Bangla, Faehgarh, Farrukahbad, Uttar Pradesh,
India |
|
Date of Birth/Age : |
79 Years |
|
Qualification : |
12th |
|
Experience : |
30 years |
|
|
|
|
Name : |
Mr. Siddharth Dubey |
|
Designation : |
Branch Manager |
BUSINESS DETAILS
|
Line of Business : |
Educational Institute |
|
|
|
|
Terms : |
|
|
Purchasing : |
Credit (6 years) |
GENERAL INFORMATION
|
Customers : |
Students |
|
|
|
|
No. of Employees : |
17 (Approximately) (Office – 7 and Factory – 10) |
|
|
|
|
Bankers : |
· Bank of India Seeganpur Branch, Bewar Road, Near Major SD Singh Medical college,
Farrukhabad – 209602, Uttar Pradesh, India |
|
|
|
|
Facilities : |
Credit Limit – Rs.5.000 Millions from Bank of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Divulged |
CAPITAL STRUCTURE
NOT AVAILABLE
FINANCIAL DATA
[All figures are
in Rupees Millions]
NEW EDUCATIONAL
SOCIETY
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
No |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
COST OF
PROJECT
(RS. IN MILLIONS)
|
Particulars |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
|
|
(Estimate) |
(Projected) |
||||||
|
|
|
|
|
|
|
|
|
|
|
Land and Site Development |
0.480 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Building |
6.000 |
2.000 |
4.750 |
0.000 |
1.000 |
1.000 |
1.000 |
1.000 |
|
Furniture and Fixture |
0.500 |
0.150 |
0.400 |
0.100 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Library |
0.150 |
0.075 |
0.200 |
0.100 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Vehicle |
0.000 |
0.000 |
0.000 |
2.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Office Equipments |
0.050 |
0.050 |
0.050 |
0.050 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Security Deposit |
0.900 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Preliminery Expenses |
0.100 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Interest during Const. Period |
0.087 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Current Assets |
0.233 |
(0.113) |
0.012 |
1.534 |
3.466 |
3.887 |
4.064 |
4.225 |
|
|
|
|
|
|
|
|
|
|
|
Total |
8.500 |
2.162 |
5.412 |
3.784 |
4.466 |
4.887 |
5.064 |
5.225 |
------------------------------------------------------------------------------------------------------------------------------
MEANS OF
FINANCING
(RS.
IN MILLIONS)
|
Particulars |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
|
|
(Estimate) |
(Projected) |
||||||
|
|
|
|
||||||
|
Corpus Fund |
4.500 |
1.100 |
4.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Tern Loan from Bank |
4.000 |
1.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Cash Accruals |
0.000 |
0.062 |
1.412 |
3.784 |
4.466 |
4.887 |
5.064 |
5.225 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
8.500 |
2.162 |
5.412 |
3.784 |
4.466 |
4.887 |
5.064 |
5.225 |
------------------------------------------------------------------------------------------------------------------------------
OPERATING
STATEMENT
(RS. IN MILLIONS)
|
Particulars |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
|
|
(Estimate) |
(Projected) |
||||||
|
|
|
|
|
|
|
|
|
|
|
Gross Receipts |
0.000 |
2.584 |
5.482 |
8.857 |
9.917 |
10.760 |
11.378 |
12.036 |
|
|
|
|
|
|
|
|
|
|
|
Net Receipts |
0.000 |
2.584 |
5.482 |
8.857 |
9.917 |
10.760 |
11.378 |
12.036 |
|
|
|
|
|
|
|
|
|
|
|
% of rise or fall in sales |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
|
|
|
|
|
Raw Material including |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Stores & spares |
|
|
|
|
|
|
|
|
|
-Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
-Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Other & Spares |
|
|
|
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.050 |
0.060 |
0.070 |
0.077 |
0.085 |
0.093 |
0.102 |
|
|
|
|
|
|
|
|
|
|
|
Power & Fuel |
0.000 |
0.060 |
0.080 |
0.092 |
0.106 |
0.122 |
0.140 |
0.161 |
|
Salary & Wages |
0.000 |
1.242 |
2.640 |
3.557 |
3.913 |
4.304 |
41.735 |
5.208 |
|
Repairing & Maintenance |
0.000 |
0.040 |
0.080 |
0.100 |
0.120 |
0.144 |
0.173 |
0.207 |
|
Advertisement Expenses |
0.000 |
0.200 |
0.200 |
0.220 |
0.242 |
0.266 |
0.293 |
0.322 |
|
Other Operating Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Depreciation |
0.000 |
0.678 |
1.159 |
1.370 |
1.315 |
1.269 |
1.229 |
1.195 |
|
|
|
|
|
|
|
|
|
|
|
Sub
Total |
0.000 |
2.270 |
4.219 |
5.410 |
5.773 |
6.190 |
6.663 |
7.196 |
|
|
|
|
|
|
|
|
|
|
|
Add: Opening Stock in Process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub
Total |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Less: Closing Stock in Process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Cost
of Production |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Add: Opening Stock of finished Goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Sub
Totals |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Less: Closing stock of finished goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
SUB
TOTAL (Cost
of sales) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Selling, Administrative & General
Expenses |
0.000 |
0.280 |
0.360 |
0.416 |
0.473 |
0.530 |
0.588 |
0.647 |
|
|
|
|
|
|
|
|
|
|
|
Sub
Total |
0.000 |
2.550 |
4.579 |
5.826 |
6.246 |
6.720 |
7.250 |
7.843 |
|
|
|
|
|
|
|
|
|
|
|
Operating Profit |
0.000 |
0.034 |
0.903 |
3.031 |
3.671 |
4.041 |
4.128 |
4.193 |
|
|
|
|
|
|
|
|
|
|
|
Interest -Term Loan |
0.000 |
0.650 |
0.620 |
0.618 |
0.520 |
0.423 |
0.293 |
0.163 |
|
|
|
|
|
|
|
|
|
|
|
SUB
TOTAL |
0.000 |
0.650 |
0.650 |
0.618 |
0.520 |
0.423 |
0.293 |
0.163 |
|
|
|
|
|
|
|
|
|
|
|
Operating profit before tax |
0.000 |
(0.616) |
0.253 |
2.414 |
3.151 |
3.618 |
3.835 |
4.030 |
|
|
|
|
|
|
|
|
|
|
|
Add: other non-operating Incomes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Sub
Total (Income) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Less: Other non-operating Expenses |
|
|
|
|
|
|
|
|
|
Preliminary Exp. W/O |
0.000 |
0.020 |
0.020 |
0.020 |
0.020 |
0.020 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Sub
Total (Expenses) |
0.000 |
0.020 |
0.020 |
0.020 |
0.020 |
0.020 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Net
of other non-operating Income/ Expenses |
0.000 |
0.020 |
0.020 |
0.020 |
0.020 |
0.020 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Net Profit before tax/loss |
0.000 |
(0.636) |
0.233 |
2.394 |
3.131 |
3.598 |
3.835 |
4.030 |
|
Provision for taxes |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Net profit after Tax/loss |
0.000 |
(0.636) |
0.233 |
2.394 |
3.131 |
3.598 |
3.835 |
4.030 |
|
Proposed Dividend |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Retained Profits |
0.000 |
(0.636) |
0.233 |
2.394 |
3.131 |
3.598 |
3.835 |
4.030 |
|
%
of retained Profit |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
|
|
(Estimate) |
(Projected) |
||||||
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short Term Bank
Borrowings from banks (Including Bills purchased, discounted and excess
borrowings placed on repayment basis) |
|
|
|
|
|
|
|
|
|
(i) From Corporation Bank |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(ii)
From Other Banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii) (Of which BP and BD) – FBP/ FBD |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Sub Total (A) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Short Term Borrowings from Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Sundry Creditors for goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sundry Creditors for Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Advance Payment from Customers / Deposit
From Dealers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Provision for taxation if any |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Divided Payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Deposit / Installments of Term Loan |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Other Current Liabilities and Provision (Due
within 1 years) |
0.300 |
0.350 |
0.400 |
0.450 |
0.500 |
0.550 |
0.600 |
0.650 |
|
|
|
|
|
|
|
|
|
|
|
Sub
Total |
0.300 |
0.350 |
0.400 |
0.450 |
0.500 |
0.550 |
0.600 |
0.650 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES (A+B) |
0.300 |
0.350 |
0.400 |
0.450 |
0.500 |
0.550 |
0.600 |
0.650 |
|
|
|
|
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
Deferred Tax Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Preference Shares (Redeemable after one
year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Term Loans (exclusive Payable within one
years) |
4.000 |
5.000 |
4.750 |
4.000 |
3.250 |
2.250 |
1.250 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Loan Against Property |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Brokers Current Account |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL
TERM LIABILITIES |
4.000 |
5.000 |
4.750 |
4.000 |
3.250 |
2.250 |
1.250 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL
OUTSIDE LIABILITIES |
4.000 |
5.000 |
4.750 |
4.000 |
3.250 |
2.250 |
1.250 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
|
|
|
|
|
Corpus Fund |
4.500 |
5.600 |
9.600 |
9.600 |
9.600 |
9.600 |
9.600 |
9.600 |
|
Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Quasi Capital |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Security Premium |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit and Loss A/c |
0.000 |
(0.636) |
(0.403) |
1.991 |
5.122 |
8.720 |
12.556 |
16.586 |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total
Networth |
0.000 |
(0.636) |
(0.403) |
1.991 |
5.122 |
8.720 |
12.556 |
16.586 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL
LIABILITIES |
8.800 |
10.315 |
14.347 |
16.041 |
18.472 |
21.120 |
24.006 |
26.836 |
|
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
Cash & Bank Balance |
0.383. |
0.170 |
(0.068) |
0.716 |
3.332 |
6.269 |
8.884 |
11.409 |
|
|
|
|
|
|
|
|
|
|
|
Advance payment for Raw Materials |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Stock in Process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Finished Goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Advances to suppliers of Raw Materials and
Stores/ Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Loans and Advances |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Duties and Taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deposits |
|
|
|
|
|
|
|
|
|
Other Current Assets |
0.100 |
0.250 |
0.300 |
0.350 |
0.500 |
0.500 |
1.000 |
1.500 |
|
Sub
Total |
0.100 |
0.250 |
0.300 |
0.350 |
0.500 |
0.500 |
1.000 |
1.500 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
0.483 |
0.420 |
0.232 |
1.066 |
3.832 |
6.769 |
9.884 |
12.909 |
|
|
|
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery,
Construction in progress etc.) |
7.267 |
9.542 |
14.942 |
17.192 |
18.192 |
19.192 |
20.192 |
21.192 |
|
Depreciation to due |
0.000 |
0.678 |
1.836 |
3.206 |
4.522 |
5.791 |
7.020 |
8.215 |
|
Net
Block |
7.267 |
8.864 |
13.106 |
13.985 |
13.670 |
13.401 |
13.172 |
12.977 |
|
|
|
|
|
|
|
|
|
|
|
Capital Work-in-progress/ Deferred tax
Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Other current Assets (Such as dues from
associates, investments/ dues which are not of nature of current assets) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total
Other Non-current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Intangible assets, Misc, Expenditures (Such
as goodwill, doubtfull debts etc.) |
0.100 |
0.080 |
0.060 |
0.040 |
0.020 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
7.850 |
9.365 |
13.397 |
15.091 |
17.522 |
20.170 |
23.056 |
25.886 |
|
|
|
|
|
|
|
|
|
|
|
Tangible Net Worth |
4.400 |
4.885 |
9.137 |
11.551 |
14.702 |
18.320 |
22.156 |
26.186 |
|
|
|
|
|
|
|
|
|
|
|
Net Working Capital |
0.183 |
0.070 |
(0.168) |
0.616 |
3.332 |
6.219 |
9.284 |
12.259 |
|
|
|
|
|
|
|
|
|
|
|
Current Ratio |
0.161 |
0.120 |
0.058 |
0.237 |
0.766 |
1.231 |
1.647 |
1.986 |
|
|
|
|
|
|
|
|
|
|
|
Total
Outside Liabilities/ tangible Net worth |
0.098 |
0.110 |
0.056 |
0.039 |
0.026 |
0.015 |
0.008 |
0.002 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(RS.
IN MILLIONS)
|
Particulars |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
|
|
(Estimate) |
(Projected) |
||||||
|
A. CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
Raw Materials (Including stores and Other Items used in the process of manufacturer |
|
|
|
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
- Month’s Consumption |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
- Month’s Consumption |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Other Consumable spares(excluding those included under item 1 above) |
|
|
|
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
- Month’s Consumption |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
- Month’s Consumption |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Stock in process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months cost of Production |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Finished Goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months Cost of Sales |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Scrap |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Debtors |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advances to Suppliers of Raw Materials |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Loans and Advances |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Duties and Taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Current Assets |
0.483 |
0.420 |
0.232 |
1.066 |
3.832 |
6.769 |
9.884 |
12.909 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS |
0.483 |
0.420 |
0.232 |
1.066 |
3.832 |
6.769 |
9.884 |
12.909 |
|
|
|
|
|
|
|
|
|
|
|
B) CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
(Other than bank borrowings for working capital) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Creditors for purchase of raw materials, stores and consumable spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months' purchases : |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Sundry Creditors for Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans and Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other than quasi-equity |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Current Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advances Received from Customers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provision for taxation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others current Liabilities |
0.300 |
0.350 |
0.400 |
0.450 |
0.500 |
0.550 |
0.600 |
0.650 |
|
|
|
|
|
|
|
|
|
|
|
Total Current Liabilities |
0.300 |
0.350 |
0.400 |
0.450 |
0.500 |
0.550 |
0.600 |
0.650 |
------------------------------------------------------------------------------------------------------------------------------
CASH
FLOW STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
|
|
(Estimate) |
(Projected) |
||||||
|
1. SOURCES |
|
|
|
|
|
|
|
|
|
a)
Net profit (after tax) |
0.000 |
(0.636) |
0.233 |
2.394 |
3.131 |
3.598 |
3.835 |
4.030 |
|
|
|
|
|
|
|
|
|
|
|
b)
Depreciation |
0.000 |
0.678 |
1.159 |
1.370 |
1.315 |
1.269 |
1.229 |
1.195 |
|
|
|
|
|
|
|
|
|
|
|
c)
Increase in Shares capital |
4.500 |
1.100 |
4.000 |
4.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
d)
- Increase in Term Liabilities (Including Public Deposits) |
4.000 |
1.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
e)
Decrease in: |
|
|
|
|
|
|
|
|
|
i) Fixed Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
ii) Other Non-current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
f)
Others |
0.000 |
0.020 |
0.020 |
0.020 |
0.020 |
0.020 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
8.500 |
2.162 |
5.412 |
7.784 |
4.466 |
4.887 |
5.064 |
5.252 |
|
|
|
|
|
|
|
|
|
|
|
2. USES |
|
|
|
|
|
|
|
|
|
a)
Net loss |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
b)
Decrease in – Term Liabilities (including public deposits) |
0.000 |
0.000 |
0.250 |
0.750 |
0.750 |
1.000 |
1.000 |
1.250 |
|
|
|
|
|
|
|
|
|
|
|
c)
Increase in: |
|
|
|
|
|
|
|
|
|
i) Fixed Assets |
7.267 |
2.275 |
5.400 |
2.250 |
1.000 |
1.000 |
1.000 |
1.000 |
|
ii) Other Non-current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
d)
Dividend Payments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
e)
Others |
0.100 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
f) TOTAL |
7.367 |
2.275 |
5.650 |
3.000 |
1.750 |
2.000 |
2.000 |
2.250 |
|
|
|
|
|
|
|
|
|
|
|
Long Term Surplus(+)/ deficit(-) |
1.133 |
(0.113) |
(0.238) |
4.784 |
2.716 |
2.887 |
3.064 |
2.975 |
|
|
|
|
|
|
|
|
|
|
|
Increase/decrease in current assets* (as per details given below) |
0.483 |
(0.063) |
(0.188) |
0.834 |
2.766 |
2.937 |
3.114 |
3.025 |
|
|
|
|
|
|
|
|
|
|
|
Increase/decrease in current liabilities
other than bank borrowings. |
0.300 |
0.050 |
0.050 |
0.050 |
0.050 |
0.050 |
0.050 |
0.050 |
|
|
|
|
|
|
|
|
|
|
|
Increase/decrease in Working Capital Gap. |
0.183 |
(0.113) |
(0.238) |
0.784 |
2.716 |
2.887 |
3.064 |
2.975 |
|
|
|
|
|
|
|
|
|
|
|
Net surplus (+)/ deficit (-) (Difference
of 3 & 6) |
0.950 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Increase/decrease in Bank borrowings |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
MEMORANDUM FOR SANCTION/APPROVAL OF NBGLCC
|
Branch :
SEEGANPUR
Zone : AGRA |
|
|||||||||||||||||||||||
|
|
Name
of Account |
Sh. Ravi Nath Singh
Law College |
|
|||||||||||||||||||||
|
|
Constitution |
SOCIETY |
|
|||||||||||||||||||||
|
|
Business/Activity
|
Setting up and Running
a Law College |
|
|||||||||||||||||||||
|
|
(i)SBU Code |
1 |
4 |
2 |
(iv)Special Category Code |
1 |
7 |
2 |
|
|||||||||||||||
|
|
(ii)Sector Code |
|
4 |
0 |
(v)Occupation Code(BSR Code) |
8 |
0 |
0 |
0 |
3 |
|
|
||||||||||||
|
|
(iii)Scheme Code |
3 |
5 |
1 |
|
|
||||||||||||||||||
|
|
Established in |
04.07.2013 |
5. |
Advance
since |
New Advance |
|
||||||||||||||||||
|
|
If the
account is new, name of the present bankers : Bank of India, Seeganpur
Branch |
|
||||||||||||||||||||||
|
|
|
Previous |
Proposed |
|
|
|||||||||||||||||||
|
|
a) Borrower Risk Grade (BRG) b) Adjusted BRG c) Borrower Pricing Grade d) External Credit Rating e) Risk weight |
NA |
SBS-3* overall |
8. |
Asset Code
|
New A/c |
|
|||||||||||||||||
|
*as per projections for FY 2014-15, which is 1st
year of operations. |
|
|||||||||||||||||||||||
|
|
Group |
No Major Group |
|
|||||||||||||||||||||
|
|
Chairman
/ MD. |
Mr. Ajay Pal
Singh President Mr. Ravi Nath
Singh Secretary/Manager |
|
|||||||||||||||||||||
|
|
Management |
The day-to-day affairs of the Society will be
headed by its President and Secretary as detailed below: 1) Mr. Ajay Pal Singh 50 years has a teaching
experience of about 20 years. He is Teacher in Adarsh Shiksha Sadan Inter
College, Alipur Saurikh; Distt.Kannauj He is also associated with various
educational institutions. He is Manager/Secretary in (1) SGR Mahavidhyalaya,Talgarm,
Kannauj, established in 2005, (II) Mr. Gopinath Singh Law College, Talgram,
Kannauj, established in 2012 and Mr. Ravi Nath Singh Dgree College, Manikpur,
Farrukhabad established in 2010. 2) Mr. Ravi Nath Singh S/o Late. Gopi Nath Singh
has teaching experience of more than 30 years .He has retired as Head Master
from a parishad school. He has also experience of managing other educational
institutions. He is president in (1) SGR Mahavidhyalaya, Talgarm, Kannauj,
established in 2005, (II) Mr. Gopinath Singh Law College, Talgram, Kannauj,
established in 2012 and Mr. Ravi Nath Singh Dgree College, Manikpur,
Farrukhabad established in 2010. |
|
|||||||||||||||||||||
PRESENT REFERENCE:
|
Last Sanction:
New Advance NBG Approval: NA; since proposed limits are less than Rs.50.000
Millions. |
Present Reference: Sanction of Term Loan of Rs.5.000 Millions for
Setting up and running Law College offering LL.B.-3 years in 120seats.
|
|
Limits |
Existing |
Proposed |
Inc.(+)/ Dec.(-) |
Pricing |
Present O/s
|
Over-dues |
|
Term loan |
NA |
5.000 |
5.000 |
3.65% above Base
Rate 13.85 % p.a. at monthly rests * |
Nil |
|
|
WCFBL |
NA |
NA |
|
|
Nil |
|
|
NFBL |
NA |
NA |
|
|
Nil |
|
Total/Max
|
|
5.000 |
5.000 |
|
Nil |
|
Repayment of TLs
|
TL I (Original limit
5.000 Millions) Repayable in 6 yearly graded installments from September 2015
till September 2020. Door to door tenor is 6 years |
|||||
PURPOSE
|
Purpose |
Term Loan for meeting the expenditure under the project viz. Meeting part of the costs for construction
of Law College at Village Dahelia, post Jaitpur, Bewar Road, Fatehgarh,
Farrukhabad. |
SECURITY
(Rs. In
Millions)
|
|
Security
|
Particulars |
Date of valuation
report |
Value Proposed |
|
|
Principal |
|
||||
|
First
Charge by way of EQM of land and proposed building of the Law College through
its manager/Sachiv situated at Gata no-383,sale deed no-4698 area 1620sqm
Vill. Dahelia post Jaitpur, Fatehgarh Farrukhabad. |
Valuation report dated 02.12.2013 by bank’s approved
Valuer Mr. H. M. Saxena |
1.Land 2.Proposed
Construction For first
Phase of Building |
1.778 8.000 |
||
|
Hypo of
equipment at estimated purchase cost |
As per project |
0.100 |
|||
|
Hypo. of
furniture and fixture proposed to be purchased |
As per Quotation |
0.850 |
|||
|
|
Total Principal |
|
10.728 |
||
|
|
Collateral |
|
|
||
|
|
1)
Equitable mortgage of Property in the name of Mr. Ajay Pal Singh S/o Mr. Ravi Nath Singh
Situated at Civil lines, Near Phoos
Banglow, Fatehgarh. 2)
Equitable mortgage of Property in the name of Mr. Ravi Nath Singh S/o Lt. Mr.
Gopi Nath Singh Situated at Civil lines, Near Phoos banglow, Fatehgarh. |
Valuation report dated 02.12.2013 by bank’s approved
Valuer Mr. H.M. Saxena |
|
1) 36.36 2)13.29 (Distress sale value) |
|
|
|
Total
Collateral |
|
49.65 |
||
|
|
Total Security |
|
156.93 |
||
|
|
ACR |
|
3.14 |
||
|
|
CCR |
|
0.49 |
||
** Cost Estimation of
proposed building for First phase done by bank approved valuer Mr. H. M. Saxena
dated 02.12.2013.
(Rs. in Millions)
|
Guarantors’ name |
Assets |
Liabilities |
Net worth |
Basis |
|
Sh.Ajay pal Singh |
76.34 |
|
76.34 |
CBD dated 04.01.2014 |
|
Sh.RaviNath Singh |
181.60 |
|
181.60 |
|
|
|
|
|
|
|
CONDUCT OF ACCOUNT:
|
Conduct of the account: NEW ACCOUNT |
|
Cheques returned during the year under review for
financial reasons: NA |
|
LC devolved and BG invoked: NA |
FINANCIAL
INDICATORS: (RS IN MILLIONS)
|
Particulars
|
Est. |
Project. |
Project. |
Project. |
Project. |
Project. |
Project. |
Project. |
|
|
|
31.03.14 |
31.03.15 |
31.03.16 |
31.03.17 |
31.03.18 |
31.03.19 |
31.03.20 |
31.03.21 |
|
|
|
|
|
|
|
|
|
|
|
|
Corpus Fund:
|
4.500 |
5.600 |
9.600 |
9.600 |
9.600 |
9.600 |
9.600 |
9.600 |
|
- Equity
|
- |
- |
- |
- |
- |
- |
- |
- |
|
|
-Preference
Share |
|
|
|
|
|
|
|
|
|
|
Tangible
Net worth |
4.400 |
4.885 |
9.137 |
11.551 |
14.702 |
18.320 |
22.156 |
26.186 |
|
|
Investment
in cos. (Of
which in group cos.) |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
Adjusted
TNW |
4.400 |
4.885 |
9.137 |
11.551 |
14.702 |
18.320 |
22.156 |
26.186 |
|
|
Medium
& Long Term Loans |
4.000 |
5.000 |
4.750 |
4.000 |
3.250 |
2.250 |
1.250 |
0.000 |
|
|
Capital
Employed |
8.400 |
9.885 |
13.887 |
15.551 |
17.952 |
20.570 |
23.406 |
26.186 |
|
|
Current
Assets |
0.483 |
0.420 |
0.232 |
1.066 |
3.832 |
6.769 |
9.884 |
12.909 |
|
|
Current
Liabilities |
0.300 |
0.350 |
0.400 |
0.450 |
0.500 |
0.550 |
0.600 |
0.650 |
|
|
NWC
(g-h) |
0.183 |
0.070 |
-Ve |
0.616 |
3.332 |
6.219 |
9.284 |
12.259 |
|
|
Net
Block |
7.267 |
8.864 |
13.106 |
13.985 |
13.670 |
13.401 |
13.172 |
12.977 |
|
|
Net
income /receipts: Domestic |
0.000 |
2.584 |
54.82 |
88.57 |
99.17 |
107.60 |
113.78 |
120.36 |
|
|
Exports Total |
|
|
|
|
|
|
|
|
|
|
Other
Income |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
EBIDTA |
0.000 |
0.927 |
2.395 |
5.027 |
5.671 |
6.219 |
6.380 |
6.544 |
|
|
Interest |
0.000 |
0.650 |
0.650 |
0.618 |
0.520 |
0.423 |
0.293 |
0.163 |
|
|
Gross
Profit/(Loss) |
0.000 |
0.062 |
1.412 |
3.784 |
4.466 |
4.887 |
5.064 |
5.225 |
|
|
Taxes |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Cash
Accruals |
0.000 |
0.062 |
1.412 |
3.784 |
4.466 |
4.887 |
5.064 |
5.225 |
|
|
Preliminary
Exp. |
0.000 |
0.020 |
0.020 |
0.020 |
0.020 |
0.020 |
0.000 |
0.000 |
|
|
Depreciation |
0.000 |
0.678 |
1.159 |
1.370 |
1.315 |
1.269 |
1.229 |
1.195 |
|
|
Net
Profit/(Loss) |
0.000 |
(0.636) |
0.233 |
2.394 |
3.131 |
3.598 |
3.835 |
4.030 |
|
|
Accumulated
Losses |
0.000 |
(0.636) |
(0.403) |
- |
- |
- |
- |
- |
|
|
Net Profit/Capital
Employed (%) |
0.000 |
-ive |
0.167 |
1.539 |
1.744 |
1.749 |
1.638 |
1.538 |
|
|
RATIOS
: Current
ratio |
1.61 |
1.20 |
0.58 |
2.36 |
7.66 |
12.31 |
16.47 |
19.86 |
|
|
Debt/Equity
: |
|
|
|
|
|
|
|
|
|
|
Term liab./ Adjusted TNW |
0.90 |
1.02 |
0.51 |
0.34 |
0.22 |
0.12 |
0.05 |
0.00 |
|
|
TOL/ Adjusted TNW TOL/Quasi Equity |
0.97 0.97 |
1.09 1.09 |
0.56 0.56 |
0.39 0.39 |
0.26 0.26 |
0.15 0.15 |
0.08 0.08 |
0.02 0.02 |
|
|
Profitability%: PAT/Net Receipt |
0.00 |
-ve |
4.25 |
27.02 |
31.57 |
33.43 |
33.70 |
33.48 |
|
DSCR
|
0.00 |
1.06 |
2.26 |
3.20 |
3.91 |
3.71 |
4.11 |
3.81 |
|
Average DSCR
|
|
3.37 |
|||||||
|
Interest Coverage |
0.00 |
1.06 |
3.14 |
7.09 |
9.55 |
12.50 |
18.18 |
33.05 |
|
|
Inventory+ Receivables/ Sales (%) |
- |
- |
- |
- |
- |
|
- |
- |
|
COMMENTS IN BRIEF ON FINANCIAL POSITION:
The Society has submitted its project report along-with estimated/projected
financials as per CMA for full repayment period which are annexed to this
proposal. They comments based on financial projections submitted by the Society
are as under:
PAID UP CAPITAL/TNW:
The proposed corpus of society for the purpose of consideration of
proposed loan of Rs.5.000 Millions is Rs.5.600 Millions for first phase of
construction which will be completed by June 2014 as per project report. The
society shall submit CA certificate of corpus fund being raised to at-least Rs.2.500
Millions, prior to disbursement. The corpus fund is estimated at Rs.5.600
Millions as on 30.06.2014. Since the
entire disbursement is required to be done in next 4-5 months, the Society
should raise its Corpus Fund to required level at the earliest, but before full
disbursement of Term Loan. CA certificate to confirm requisite Corpus Fund to
be obtained before each disbursement; commensurate with availment0 of the term
loan, and ensure that Max. DER of 3:1 is maintained prior to disbursement and
at all times during currency of bank loan.
NET SALES/INCOME:
The Society has proposed that it will start its commercial activity in
July 2014 and the Society has its estimated net receipts for the next FY 2014-15
i.e. for 9 months to be Rs.2.584 Millions. However it is expected to increase
to Rs.5.482 Millions in the next FY 2015-16.
With the steady growth of admissions in coming years, the estimated
receipts may be considered achievable. They have conducted discreet market
enquiries and ascertained the fee structure of other colleges in the nearby
areas, and found that the proposed fee structure for this college is in line
with the trend prevalent in the area.
Accordingly, they recommend that the estimates/projected receipts may be
accepted.
PROFITS/PROFITABILITY:
The Society has estimated net loss of Rs.0.636 Millions during FY
2014-15 since it shall start its commercial activity in July 2014 and will
start generation income only for 9 months in next FY. It has projected to start earning net profit
from FY 2016-17 onwards and will earn net profit of Rs.0.233 Millions for FY
ending 31.03.16 which is projected to further increase to Rs.2.394 Millions in
FY 2016-17, which may be considered acceptable.
CURRENT RATIO:
As per estimates given by the Society the current ratio in the current
FY is 1.61and it is expected to be 1.20 in the next financial year, and 0.58
during FY 2015-16 which is slated to be 1st full year of operations. As the unit
is in implementation stage, we may accept the position.
DEBT EQUITY RATIO:
As per estimates given by the Society, the DE ratio for the current FY
is 0.90 and is estimated/ projected to be max.1.02 at any time during currency
of term loan, considering the corpus of Rs.4.500 Millions as against Term loan
of Rs.5.000 Millions. The same is as per bank’s norms and may be accepted.
However, since Society has estimated to increase its Corpus Fund to Rs.5.600
Millions on 30.06.2014 in 2014-15 FY.
DSCR/ ISCR:
Average DSCR for the entire period of
repayment for total project is at 3.37, which is as per acceptable level and
hence, we may accept the same.
As per estimates/projections given by the Society ISCR estimated for Ist full year i.e. FY 2015-16 is 3.14.
The same may be considered acceptable.
NET BLOCK:
As per estimates given by the Society, Net
Block for current FY is estimated at Rs.7.267 Millions on account of setting up of the building, purchase of Equipments and
furniture and fixtures for the college. The same is projected at Rs.8.864
Millions as on 31.03.2015.
STATUTORY AUDITORS’ REMARKS/QUALIFICATIONS:
Since it is a new establishment, no audited
B/S is available, as no operations are there in the Society.
ASSESSMENT/JUSTIFICATION
FOR PROPOSED LIMITS
PROJECT FINANCE/TERM LOAN
ASSESSMENT:
BACK GROUND:
Sh. Ravi Nath Singh Law
College Samiti is a Registered Society
Registered under Society registered Act 1860 vide Registration
Certificate No-330 of 2013-2014 issued by Dy. Registrar of Societies and chits
Kanpur dated 04.07.2013 with the objective for setting up a Law College at Vill-Dahelia Post-Jaitpur, Bewar
Road,fatehgarh, District-Farrukhabad, in the name of M/s Sh. RAVI NATH SINGH
LAW COLLEGE. For setting up the Law College, the Society has
approached us for consideration of a term loan of Rs.5.000 Millions for meeting cost of construction of building for
setting up the Law College for first phase of construction.
COST AND MEANS OF FINANCE:
Details of cost and sources of finance are as under: (Rs. In Millions)
|
|
Cost of plant and machinery |
Sources of Finance |
||
|
|
Particular |
Amount |
Particular |
Amount |
|
1 |
Land & Site
Development |
0.480 |
Corpus Fund |
5.600 |
|
2 |
Building |
8.000 |
Term Loan |
5.000 |
|
3 |
Equipments |
0.000 |
|
|
|
4 |
Furniture &
Fixtures |
0.650 |
|
|
|
5. |
Fixed Deposit |
0.900 |
|
|
|
6. |
Preliminary Expenses |
0.100 |
|
|
|
7. |
Library Books |
0.225 |
|
|
|
8. |
Office Equipments |
0.100 |
|
|
|
9 |
Working Capital |
0.058 |
|
|
|
10 |
Interest during
construction |
0.087 |
|
|
|
|
Total |
10.600 |
|
10.600 |
Though the total cost above aggregate to Rs.10.600 Millions, however,
the hard cost of the project shall be reckoned as:-
i)
Building Rs.8.000 Millions
Total
Rs.8.000 Millions
Accordingly the margin
shall be reckoned @ 37.50 % with regard to hard project cost and term loan of
Rs.5.000 millions. Since the Proponent has requested for term loan facility
only for construction of college building of first phase cost Rs.8.000 Millions
Hence
Land is already
purchased in the name of college. The
proposed building shall consist of Office Block, Class Rooms, Laboratories,
Library, Teacher’s Room etc. which will be constructed at per norms prescribed
by NCTE and C.S.J.M University, Kanpur estimating to Rs.12.750 Millions for
complete building including both phases of construction as given by Govt.
Registered Valuer. The cost and construction estimate will be vetted by bank’s
approved valuer M/s H.M. Saxena and Associates before disbursement.
They will obtain
Performa invoices/quotations for Equipments to be purchased and furniture and
fixture to be purchased and the same to be vetted by Bank’s approved Chartered
Engineer/Valuer before disbursement.
They will ensure to obtain full details of the equipments to be
purchased and ensure that the same are distinct and identifiable. Satisfactory status reports on suppliers will
be obtained prior to disbursement. They
will conduct post-disbursement inspection to confirm installation of equipments
and report shall be kept on branch record.
PRESENT STATUS OF PROJECT: (Rs. In Millions)
|
S. No. |
Particulars |
Project Cost |
Margin |
Amount of T/L |
Amount to be disbursed directly to suppliers |
|
1 |
For construction |
8.000 |
37.50% |
5.000 |
5.000 |
|
2 |
Equipments |
- |
- - |
- - |
- |
|
3 |
Furniture &
Fixtures |
- |
- |
||
|
4 |
Total |
8.000 |
|
8.000 |
8.000 |
MARGIN:
Total hard cost of project is Rs.8.000 Millions for construction of building
and the society has requested for term loan of Rs.5.000 Millions, thus margin
works out at 37.50% of the project cost. The society has advised that it may require
to make some advance payment towards purchase for construction of building and
has requested for treating the advance payments made to that extent as margin. They may agree, subject to verification of
bills/receipts made for the said advance to ensure end- use of funds.
DISBURSEMENT AND MONITORING:
Prior to disbursement we shall carry out a further inspection of unit
and of mortgaged properties. Any adverse feature will be brought to attention
of Sanctioning Authority prior to disbursement.
Vetting of cost estimates of proposed cost of equipments has been done
and Performa invoices from bank’s approved Chartered Engineer/valuer shall be
ensured; prior to disbursement. Payments
to be made directly to suppliers of equipments and receipts to be kept on
branch record. Status report/D and B report of suppliers to be obtained prior
to disbursement. CA certificate for amount already spent on the project and
margin money brought- in by the promoters to be obtained prior to disbursement.
For amount of Term Loan to be disbursed on re-imbursement basis, they shall
verify invoices/bills/receipts to satisfy them for the expenses made and keep
the verified copies of the same on record.
The proposed term loan will be disbursed
directly to the suppliers of construction material and equipments as applicable
and margin will be maintained at every stage of disbursement. End-use shall be
further ensured by prompt post disbursement inspection to be carried out by the
branch officials to verify installed equipments/ F&F. The society has
advised that depending upon the exigencies and/or requirements at that time; it
may need to modify the list of equipments/supplier within the amount of
proposed term loan. The above stipulations shall apply to the equipments/
F&F to be purchased even if there is a change in amount/type of equipments
or supplier. In such a case the max. Amount of loan shall be limited to
Rs.5.000 Millions and margin required to remain the same in all cases. All
usual precautions for disbursement of term loan as per extant guidelines as
enumerated above shall be required to be complied with mutatis-mutandis in such
a case. Any excess amount due to fluctuation in Rate/prices or any cost
escalation to be paid by the borrower themselves and they will obtain
undertaking from the borrower for the same at the time of documentation.
IMPLEMENTATION SCHEDULE: The Society has
advised its estimated implementation schedule as under:
|
Particulars |
Commencement |
Expected Date of Completion |
|
Acquisition of land |
Already Acquired |
|
|
Site Development |
Presently being done |
|
|
Civil work |
Already Started |
February 2014 |
|
Placement of Orders
for equipments |
February 2014 |
March 2014 |
|
Delivery of
Equipments |
April 2014 |
May 2014 |
|
Installation and
final Run |
June 2014 |
June 2014 |
|
Commercial operation/date
of commencement of academic session |
July. 2014 |
|
At the time of
disbursement/documentation branch to document dates of completion of project
and date of commencement of activities.
DSCR:
DSCR for the entire repayment has been worked out as detailed below
from the Ist year of operations FY 2014-15:
(Rs. In Millions)
|
Year |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
Total |
|
NP |
(0.636) |
0.233 |
2.394 |
3.131 |
3.598 |
3.835 |
4.030 |
|
|
Dep |
0.678 |
1.159 |
1.370 |
1.315 |
1.269 |
1.229 |
1.195 |
|
|
Intt |
0.650 |
0.650 |
0.618 |
0.520 |
0.423 |
0.293 |
0.163 |
|
|
Total (A) |
0.692 |
2.042 |
4.382 |
4.966 |
5.290 |
5.327 |
5.388 |
28.087 |
|
Intt |
0.650 |
0.650 |
0.618 |
0.520 |
0.423 |
0.293 |
0.163 |
|
|
Intallmts |
0.000 |
0.250 |
0.750 |
0.750 |
1.000 |
1.000 |
1.250 |
|
|
Total (B) |
0.650 |
0.900 |
1.368 |
1.270 |
1.423 |
1.293 |
1.413 |
8.317 |
|
DSCR (A/B) |
1.06 |
2.26 |
3.20 |
3.91 |
3.71 |
4.11 |
3.81 |
|
|
Avg DSCR |
3.37 |
|
||||||
Average DSCR for the repayment period works
out to 3.37 which is as per acceptable level of the bank and may be accepted.
REPAYMENT:
The repayment of proposed term loan will be 6 graded yearly
installments as detailed below commencing from September 2015. Interest during
moratorium period and thereafter will be paid on monthly basis as and when
applied.
|
Year |
Detail of Installment |
Amount in Millions |
|
2015-16 |
Yearly installment
of Rs.0.500 Million payable in September 2015 |
0.250 |
|
2016-17 |
Yearly installment of Rs.1.500 Millions payable
in September 2016 |
0.750 |
|
2017-18 |
Yearly installment of Rs.1.500 Millions payable
in September 2017 |
0.750 |
|
2018-19 |
Yearly installment of Rs.2.000 Millions payable
in September 2018 |
1.000 |
|
2019-20 |
Yearly installment of Rs.2.000 Millions payable
in September 2019 |
1.000 |
|
2020-21 |
Yearly installment
of Rs.2.500 Millions payable in September 2020 |
1.250 |
BACK GROUND & COMPETENCE OF PROMOTORS:
Sh.Ravi Nath Singh Law College Samiti is a Registered Society registered on
04.07.2013 with the main objective of providing educational facilities by
establishing school and colleges. To accomplish the main object the society has
planned for setting up a Law College at Vill-Dahelia post-Jaitpur, Pargana
Mohammadabad, Bewar Road, Fatehgarh, Farrukhabad in the name of M/s Shri Ravi Nath Singh Law College.
The Society has proposed to affiliate itself with Chatrapti Sahu ji Maharaj
University, Kanpur and also applied for permission for running LLB. Classes
having 120 seats. For setting up of above said college the Society has
approached for consideration of term loan for Rs.5.000 Millions for
construction of building only.
1) Dr. Ajay
Pal Singh has teaching experience of more than 20 yrs .He is teacher in Adarsh
Shiksha Sadan Inter College, Alipur Saurikh, Disrtict kannauj. He has also
experience of managing other educational institution. He is Manager/Secretary
in SGR Mahavidyalaya, Talgram.Distt kannauj, Shri GopiNath Singh Law College,
Talgram, Kannauj and Shri Ravi Nath Singh Degree College, Manikpur,
Farrukhabad.
2) Sh. Ravi
Nath Singh has teaching experience of more than 30 yrs. He was retired from a
parishad school from the post of head master. He has also experience of
managing other educational institutions. He is President in SGR Mahavidhyalaya,
Talgram, District -Kannauj, Shri. Gopi Nath Singh Law College Talgram, kannauj,
established in 2012 and Shri Ravi Nath Singh Degree College, Manikpur,
Farrukhabad established in 2010
Besides above the society
will also avail services of other qualified and experienced Teachers and
skilled staff having expertise in different fields to run the proposed college.
MARKETING ASPECT:
The proposed Law
College is expected to be well equipped and modern in district
Farrukhabad. The Law College is proposed
to be situated at outskirts of the city Vill- Dahelia post-Jaitpur Bewar Road, Fatehgarh,
Farrukhabad having a great scope for education to nearby students. The
members of promoter’s family have a long association with the area; they are
having a line of Inter/Law College which will help garnering the business in
the area.
TEV STUDY:
As per HOBC 107/46
dated 06.06.2013 threshold limit of exposure is Rs.150.000 Millions for
carrying out TEV Study. As the proposed term loan is only to the extent of
Rs.5.000 Millions, hence TEV Study is not applicable in this case.
FAVOURABLE FACTORS (in
brief):
ü
The Law
College is promoted by the highly respected and influential Sh. Ravi Nath Singh
family.
ü
The
education sector is a thrust area for govt. and need for quality education is
always there.
RISK
FACTORS AND MITIGANTS:
ü
The
proposed advance is to an educational institution where the enforcement of
security is difficult. However, as stated earlier, looking into the promoter’s
background, the financial strength of the Promoters, and collateral coverage
ratio of 0.99 and satisfactory
projections for the project, the risk may be treated as sufficiently mitigated.
ü NEW SET UP: Being new set up the proposed
project may face some risk, however the promoters of the project are well
qualified Teacher and are experienced in running educational institutions,
since they are also running a law college in District - Kannauj This should help them in running the proposed
college.
BORROWER’S EXPOSURE: (Existing) New A/C
(Rs. in Millions)
|
|
Facility |
Limit |
Outstanding |
Asset Status |
|
With Us |
NIL |
NIL |
NIL |
NA |
|
With Other Banks |
|
|
|
|
|
With FIs* |
|
|
|
|
|
Under Lease
Finance/Invt. |
|
|
|
|
|
Total |
NIL |
NIL |
NIL |
NA |
GROUP EXPOSURE: N.A.
Since the promoters of
the college do not belong to any group and the proposal for setting up new law college
is the first proposal from the promoters in Seeganpur Branch .Hence group
Exposure is NIL for the account.
EXPOSURE CAP BASED ON CAPITAL: (Rs. in Millions)
|
Maximum exposure based on capital funds as on
31.03.2013 |
Borrower |
Group |
||
|
Cap. |
Actual
|
Cap. |
Actual
|
|
|
309000.00 |
50.00 |
1237000.00 |
50.00 |
|
EXPOSURE TO
INDUSTRY: (including present exposure)
(mention sector) (Rs. in Millions)
|
a) Sectoral Cap for (%) industry |
: |
-- |
|
b)
Bank’s Exposure |
: |
-- |
|
c)
Zone’s Exposure |
: |
-- |
|
d)
NPA at Bank level |
: |
-- |
|
e)
NPA at Zonal level |
: |
-- |
UTILISATION/VALUE OF
ACCOUNT: (RS. IN MILLIONS)
|
Utilization of : |
Last Year |
Current Year (est.) |
|||||
|
|
Amount |
% |
Amount |
% |
|||
|
a) Fund Based Limits |
|
|
|
|
|||
|
i. Term Loan |
- |
- |
5.000 |
58 |
|||
|
ii. Working Capital |
- |
- |
- |
- |
|||
|
b) Non Fund Limits |
- |
- |
- |
- |
|||
|
Export Turnover |
- |
- |
- |
- |
|||
|
Import Turnover |
- |
- |
- |
- |
|||
|
Earning |
Last Year |
Current Year (est.) |
|||||
|
Interest |
|
0.650 |
|||||
|
Other Income |
No. |
Amt. |
Earnings |
No. |
Amt. |
Earnings |
|
|
Bills
Purchased/ collected |
|
- |
|
|
- |
|
|
|
LCs opened |
|
- |
|
|
- |
|
|
|
Guarantees
issued |
|
- |
|
|
- |
|
|
|
Any other
Income |
|
- |
|
|
0.150 |
|
|
|
Total |
- |
0.800 |
|||||
|
Yield |
Nil |
0.800 |
|||||
DETAILS OF FLOAT AVAILABLE:
(Rs. In Millions)
|
|
Current year position |
Position during last year |
||
|
No. of A/Cs |
Amount |
Average Balance |
Outstanding as on 31.03.2013 |
|
|
Saving Bank |
10 |
0.200 |
2.00 |
0.100 |
|
Current Deposit |
- |
- |
- |
- |
|
Term Deposit |
6 |
2.350 |
23.50 |
2.350 |
|
Total |
15 |
2.450 |
25.50 |
2.450 |
TARIFF:
|
Item |
Applicable
charge |
Present charges |
Proposed charges |
|
ROI |
3.65% above Base
Rate 13.85 % p.a. at monthly rests |
NA; New Account |
-----NA------ |
|
Processing and EQM charges |
As per extant guidelines |
NA; New Account |
--------NA------ |
AUDIT/INSPECTION/MEETINGS/CPA:
|
|
Last Date |
Remarks/observations |
|
Inspection |
Pre-sanction
inspection carried out by the branch on 09.12.2013 |
Satisfactory. Construction of
college building is going on. |
|
Stock audit For FY: |
NA |
NA |
|
Consortium meeting |
NA |
NA |
|
Any adverse comments
of Statutory/ Internal/ Concurrent/RBI Auditors and Borrower's Auditors. |
Not Applicable |
|
|
Closure of CPA
(Authority and Date) |
New Account |
|
CONFIRMATION:
|
a. |
Compliance of last sanctioned
terms |
: |
NA |
|
b. |
Security Documents
are valid/in force |
: |
NA |
|
c. |
Proper charge on
securities created in Bank’s favor |
: |
NA |
|
d. |
Exposure is within
Bank’s prudential Norms/RBI guidelines |
: |
Yes |
|
E |
Whether company/directors are under Bank’s/RBI/ ECGC/CIBIL defaulter’s list |
: |
No |
|
f. |
Any deviation from
usual norms |
: |
No |
|
g. |
Whether directors
are disqualified under Section 274 of Companies Act |
: |
No |
|
h. |
Any arrears in payment
of statutory liabilities by the Co. |
: |
No |
|
i. |
Whether status
report/D&B report, if applicable, obtained |
: |
* |
|
j. |
Auditor’s
comments on Corporate Governance Practices followed in case of Limited
Companies |
: |
NA |
|
k |
Pending
litigation against/by the company (If yes details to be given) |
: |
No |
|
l |
Whether
company/directors/firm’s partners/proprietor are related to Bank’s director/s |
: |
No |
*They shall obtain status
report on supplier of construction material, Equipments and Furniture and
Fixtures as per extant guidelines of the bank before release of Term Loan.
Directions of sanctioning authority in the previous
sanction: New Account
FLOW CHART:
|
Date application received at branch |
08.11.2013 |
|
Date of valuation report and final
clarification/data received at Branch |
05.12.2013 |
|
Date of Branch Proposal |
23..01.2014 (revised) |
|
Date proposal received at Zonal Office |
|
|
Date of Zonal Office Proposal |
|
BRANCH
COMMENTS/RECOMMENDATIONS:
BACKGROUND:
Sh. Ravi Nath Singh Law College Samiti is a Registered Society registered
on 04.07.2013 with the main objective of providing educational facilities by establishing
school and colleges to cater the need of students in the area in different
Streams /education. To accomplish the main object the society has planned for
setting up a Law College at Vill-Dahelia Post-Jaitpur, Pargana Mohammadabad,
Bewar Road, Fatehgarh, Farrukhabad in the name of M/s SHRI Ravi Nath Singh Law
college. The Society has
proposed to affiliate itself with Chatrapti Shiva ji Maharaj University, Kanpur
and also applied for permission for running L L B Classes having 120 seats. For
setting up of above said college the Society has approached for consideration
of term loan for Rs.5.000 Millions.
1) Dr. Ajay
Pal Singh has teaching experience of more than 20 years. He is teacher in
Adarsh Shiksha Sadan Inter College, Alipur Saurikh, District Kannauj. He has
also experience of managing other educational institution. He is
Manager/Secretary in SGR Mahavidyalaya, Talgram District Kannauj, Shri Gopi
Nath Singh Law College, Talgram, Kannauj and Shri Ravi Nath Singh Degree
College, Manikpur, Farrukhabad.
2) Sh. Ravi
Nath Singh has teaching experience of more than 30 years. He was retired from a
Parishad School from the post of head master. He has also experience of
managing other educational institutions. He is President in SGR Mahavidhyalaya,
Talgram, District - Kannauj, Shri.Gopi Nath Singh Law College, Talgram,
Kannauj, established in 2012 and Shri Ravi Nath Singh Degree College ,Manikpur,
Farrukhabad established in 2010.
The promoters belong to a very established family
running a law college since 2012 and other educational institutions at
Farrukhabad and Kannauj. The Promoters are also running a Law college named
Shri. Ravi Nath Singh Degree College situated at Vill- Manikpur Fatehgarh
District Farrukhabad which is one of the premier education institutes in
district. To cater the need of Students education in the area, the promoters
have proposed to set up the Law College at a place nearby the city.
PRESENT REFERENCE:
The Society has approached us for consideration of
term loan of Rs.5.000 millions for construction of building for setting up a
Law College with latest facilities at Vill-Dahelia Post-Jaitpur, Bewar Road
Fatehgarh Farrukhabad. They recommend for favorable consideration of the same.
DUE DILIGENCE:
This is a new
advance account. They have obtained constitution, laws and bye laws of society,
along-with Registration Certificate and the same are on branch record. They have carried out verification of RBI
Defaulters’ list, ECGC – SAL /CIBIL verification of the Society and the
directors/Guarantors. Findings are satisfactory with no adverse
observation. We have
also obtained duly verified latest CBD-23
statements of all promoters/guarantors and kept on record, along with CA-certified
personal B/s and copies of supporting documents. They shall also ensure that
KYC of all the promoters /guarantors are completed and will be updated in all
respects as per Bank’s guidelines in force from time to time before release of
term loan.
They will obtain and approve legal title
search of the properties proposed as security from Bank’s empanelled advocate
for the 30 years period along with copy of tax paid pertaining to properties as
applicable so as to ensure that valid and enforceable EQM is duly created on
primary as well as collateral securities prior to disbursement of term loan.
Valuation of the proposed properties to be mortgaged has been done by their
empanelled valuers M/S H. M. Saxena and Associates. We will also carry out another
inspection of unit as well as proposed securities before release of term loan
and at periodic intervals thereafter. Title deed search and valuation reports
shall be duly obtained and approved by branch before release of term loan.
CANVASSING OF BUSINESS/ CONCESSIONS
PROPOSED:
The Seeganpur branch especially caters to
the requirement of the Major S.D. Singh Group and other Business person, still
other banks have entered the area and trying to snatch the business from them.
Looking to the genuineness and long association of the Promoters and to compete
with other banks functioning in the area.
Cross selling of third party products:
Since promoters of the Society are high net
worth individuals, branch shall endeavor to cross sell banks other third party
product viz. SUD life, gold Coins and Mutual funds to the company/group
concerns /its directors and their family members of substantial amount.
RECOMMENDATIONS:
In view of the foregoing, and especially considering that:-
i)
Standing and strength of the
promoter Group in the area;
ii)
Potential for setting up of
educational institution for higher education in the area
iii)
The college being
economically viable and fees structure being reasonable as per market trend;
and
iv)
Adequate collateral security
and past satisfactory conduct of promoter’s group accounts with them.
SANCTION of:
Limits
Fund Based |
Rs. in Millions |
|||
|
Existing |
Recommended by Branch |
Recommended by ZO |
Margin |
|
Term loan
|
- |
5.000 |
5.000 |
37.50% |
|
Total/Maximum |
- |
5.000 |
5.000 |
|
SUBJECT TO:
· Compliance of all Terms of sanction as contained in Branch Proposal;
· KYC/ AML guidelines as well as due diligence in respect of the borrower company, and all Guarantors shall be meticulously complied with by the branch.
· Sanction terms to be advised to the society/guarantors in duplicate. The acknowledgement should be duly obtained from the society/guarantors on the duplicate copy, which should be held on record;
· Appropriate security documents for credit facilities together with usual stamped undertakings duly executed by the society and supported with suitable society resolution. Security to be created i.e. Hypothecation/ EQM after compliance with related formalities like obtention of title search report from Advocate on the Bank’s panel and copy of tax paid pertaining to properties to be mortgaged as applicable. Branch to ensure that proper, valid and enforceable EQM on principal and collateral securities is duly created in Bank’s favour prior to disbursement.
· Branch to carry out another inspection of unit as well as proposed collateral security before release of Term Loan and at regular bi-monthly intervals thereafter.
· Net worth of the promoters/Guarantors based on latest CBD-23 statements, CA-certified personal B/s and copies of supporting documents, to be verified by branch and retain the same on its record.
· Branch to ensure all repayments are up-to-date and all the a/cs of group concerns are in order before release of proposed Term Loan.
· Stamped declaration to be obtained from the society/borrower that it does not have any other a/c (other than specified above) with other banks/ FIs / NBFCs and the company shall take prior permission from Bank before opening any a/c or availing any type of credit facilities with other banks/FIs/NBFCs or before giving any form of Personal or other Guarantee in favour of any entity.
· Recovery of appropriate processing / documentation / inspection / mortgage charges and all other charges as applicable;
· CPA to be conducted. Disbursement of advance after compliance with conditions as per memorandum and with observations of CPO, if any;
· Vetting of the documents should be done by the Bank’s approved advocate;
· Branch to obtain stamped and unstamped undertakings/declarations as contained in the draft sanction letter;
· Independent verification of valuation and identification of property to be mortgaged should be carried out by second official in the Bank's appropriate format as per H. O. Br. Cir. No.99/103 dated 03.10.2005 and placed on record;
· Branch to comply with the disbursement conditions of Term Loan.
· Branch to ensure that the society has obtained load approval from Electricity Supply Dept. and all other statutory/Government approvals and permissions as necessary for establishing/running the proposed college prior to release of term loan.
· Branch to obtain necessary documentary proof for confirming various permission/approvals/NOCs from necessary regulatory authorities/Educational Board and U.P. Government have been obtained by the society; as far as possible prior to disbursement and in time bound manner; as and when they are required as per regulations in force. Branch to independently verify the requirements for running such type of institution as required from relevant authorities and ensure strict compliance of the same by the proponents from time to time.
· To ensure that Disbursement to be made in stages, commensurate with the actual need-based requests for construction of building/purchase of equipments and F and F; margin to be ensured at every stage, disbursement to be done directly to suppliers where necessary, status report on suppliers/contractors to be obtained as per existing guidelines of the bank; Bills/receipts to be kept on record, End-use of funds to be ensured and regular Inspection to be done on monthly basis;
· Society constitution, laws and bye laws to be perused by the branch and specifically branch to ensure that the Society has powers to borrow funds from Banks as well as create mortgage of its owned/leased property to secure its borrowings. Branch to take documentation in terms of extant guidelines for credit facilities sanctioned to Society and in consultation with Bank’s empanelled advocate for obtention of necessary papers such as certificate of registration of society, its constitution, laws and bye-laws in this regard and act accordingly prior to disbursement;
· Proper resolution from Society in accordance with its constitution and bye-laws authorizing it for availing credit facilities from their Bank and to create securities on assets of the college/society to be obtained, duly signed by the authorized signatories of the society; prior to disbursement.
· Branch to get the project cost estimates (including cost of construction, equipments and fixtures to be installed) and projections vetted from Bank’s empanelled chartered engineer/valuer. Title deed Search, valuation report, cost estimates and projections to be approved by branch incumbent prior to disbursement;
· Escrow a/c to be opened with branch and all income of said college to be pooled in this A/C. Branch’s collection A/C to be sole conduit for the receipt/payment of college fees etc. and branch to ensure all payments/receipts of college are routed through this account only. Branch to ensure that their Bank’s A/C No. is mentioned in relevant literature/pamphlets for receipt of fees etc. for proposed college;
· Branch to obtain online search at CERSAI for proposed property to be mortgaged and ensure no charge is registered against the same and also to file charge with CERSAI for enhanced limits immediately on creation of EQM prior to release of proposed limit as per HOBC 107/40 dated 01.06.2013. Branch to ensure that all their charges have been registered properly on the assets of the firm.
AUTHORITY FOR SANCTION:
NBGLCC for sanction and approval as proposed, except 50% concession in PPC and EQM Charges for which delegated authority shall be HLCC.
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Building
· Furniture and Fixture
· Library
· Office Equipments
· Vehicles
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.